Witan ups equity and fixed interest exposure
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The £983m Witan investment trust has increased its gearing level from zero to 6% to add to its exposure to British equities and fixed income.
The global growth trust, which has a multi-manager structure, has added to its UK exposure through a £20m investment into two existing mandates run by Artemis and Marathon Asset Management. As a result, the trust’s exposure to British equities has jumped two percentage points to about 34%.
In early April the fund, managed by Jim Horsburgh, also made an initial £10m investment into the Pimco Global Credit fund to raise its fixed interest weighting.
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